Sui’s Price Up 18% On Strategic Partnership & Groundbreaking ETF Filing
Sui’s Price Up 18% On Strategic Partnership & Groundbreaking ETF Filing By Ruchi Sharma
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President Donald Trump signed executive orders related to Bitcoin reserves and the U.S. digital asset stockpile, but crypto investors weren’t particularly happy with this decision. As expected, it affected the crypto market, and a decline was observed in almost every coin. However, amidst this gloomy scenario, there is one coin that has continued to shine—SUI token.
Due to SUI’s strong performance, its market cap saw a 153% rise in the last quarter. DeFi activity on SUI has also been steadily increasing. Hold your breath—its average decentralized exchange (DEX) volume skyrocketed by 1,591% year-over-year. With a total value locked (TVL) of $1.3 billion, the SUI blockchain is now ranked among the top 10 blockchains in Decentralized Finance (DeFi). As of March 10th, the market price of SUI is $2.3, with a market cap of $7.6 billion.
So, what is it about the SUI token that has made it a favorite among investors? Let’s find out. But before we go further, please like, share, and subscribe to our channel so that you don’t miss out on these interesting updates.
Well, there are three main reasons for the traction of the SUI token:
- Lombard Finance Launched LBTC on SUI
- Lombard Finance is deploying its liquid-staking bitcoin token, LBTC, on SUI. With this expansion, institutional bitcoin liquidity on SUI will increase. The token is designed to use bitcoin as collateral for decentralized finance (DeFi) applications. SUI’s DeFi protocols currently have around $1.3 billion in total value locked (TVL). The introduction of the LBTC token will allow users to leverage these tokens on SUI’s DeFi protocols to earn bitcoin staking rewards. With nearly $2 billion in circulation and 70% of active supply in DeFi protocols like Aave and Morpho, LBTC has shown strong growth since its launch.
- Canary Capital Filed for SUI ETF
- Canary Capital has filed for a SUI ETF. If the SEC approves the SUI ETF, Canary Capital will become the first asset manager to offer a SUI ETF. This would lead to large-scale adoption and investment in SUI.
- SUI’s Partnership with WLFI
- SUI recently partnered with Trump’s DeFi platform, World Liberty Financial (WLFI). Under this deal, SUI tokens will become part of WLFI’s “Macro Strategy” strategic token reserve. After the announcement, SUI’s price surged 12%, briefly approaching the $3 mark before settling around $2.85, which represented a 5.7% gain from pre-announcement levels. This partnership is not entirely unexpected, as Eric Trump, the president’s son, has publicly expressed support for and personally holds the cryptocurrency.
Now, you may be wondering why the SUI network is so favored. The reason is that SUI blockchain offers superior transaction speed, scalability, and low gas fees compared to other blockchains like Solana. SUI’s transaction speed exceeds 10,000 per second, and the gas fee is negligible. This is because SUI uses Meta’s Move programming language, which is specifically designed to build secure and reliable smart contracts. Additionally, SUI supports parallel transaction processing, making it fast, scalable, and economical.
The ETF filing by Canary Capital could pave the way for institutional investment, while the WLFI partnership further strengthens SUI’s presence in the DeFi ecosystem. If both catalysts align with a technical breakout, SUI could experience a major rally, further solidifying its position in the blockchain space. If its ecosystem continues to grow, especially in the DeFi and gaming sectors, SUI could become a major player.
According to research service provider InvestingHaven, SUI is forecasted to range from $3.01 to $8.81 in 2025. Institutional adoption and technological advancements will be key drivers. If market conditions remain favorable, SUI could experience significant growth with increased investor interest.
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